Presidency Touts Measurable Results as Food Prices Crash by Up to 55%

The Presidency has stated that the economic reforms introduced by President Bola Ahmed Tinubu have led to a massive drop in food prices across the country, with major staples recording reductions ranging between 40 and 55 percent.

This announcement was made by Special Adviser to the President on Media and Public Communication, Sunday Dare, in a statement on Friday titled “Nationwide Food Price Drop — A Testament to President Bola Ahmed Tinubu’s Economic Impact.”

Data released by the Office of the Special Adviser to the President on Media and Public Communications claims a dramatic fall in the prices of key food items. According to the data, a big bag of dry onions, which sold for ₦202,500 in February 2025, now sells for ₦25,000, while a 50kg bag of local rice has dropped from ₦95,000 to ₦40,000. Similarly, imported rice now sells for ₦70,000, down from ₦106,000 earlier in the year.

Other major staples cited include maize falling from ₦90,000 to ₦30,000 per 100kg, brown beans from ₦210,000 to ₦50,000 per 100kg, and tomatoes (big basket) from ₦130,000 to ₦25,000. Palm oil (25 litres) also dropped from ₦35,000 to ₦28,000, while yam (medium tuber) now sells for ₦3,600 down from ₦4,125 in February.

In the statement, Mr. Dare asserted that the decline in food prices is a direct reflection of the success of President Tinubu’s agricultural and economic policies, which he said have boosted local production, improved logistics, and enhanced food supply chains nationwide.

“The recent significant drop in food prices across Nigeria stands as clear evidence of President Bola Ahmed Tinubu’s ongoing economic reforms and commitment to improving the living standards of Nigerians,” the statement read.

He added that the government’s interventions in the agricultural sector and support for local farmers have helped stabilise prices, reduce inflationary pressures, and improve citizens’ purchasing power.

“The drop in food prices is more than just a market adjustment — it is proof that the economic direction under President Bola Ahmed Tinubu is yielding measurable results,” Dare stated. “The reforms are restoring stability, boosting local productivity, and putting Nigeria firmly on the path to sustainable growth and prosperity.”